Case Study

Enhancing customer retention for a leading player in banking

Enhancing customer retention for a leading player in banking
  • Case Study
  • 3 Minute Read

How we guided a leading bank to improve retention by 30% per campaign and retain more than $30 million in customer value annually with our NBX approach.


Challenge

The client, a major bank, was facing a daunting challenge: it was losing over $500 million of assets a year due to escalating customer churn. Traditional customer retention programmes, which had previously achieved some success, were proving increasingly ineffective in stemming the tide of departing customers.

Solution

In response to this dilemma, our team turned to advanced machine learning techniques. By using these technologies, we were able to design and deliver prioritised retention campaigns. These campaigns were designed specifically for bank managers to target and retain those customers identified as high value at risk, ensuring that the most significant potential revenue losses were addressed first.

Results

The results of this initiative were markedly positive. The client experienced a significant increase in the retention of high value customers. In addition, the effectiveness of individual marketing campaigns was significantly improved, with a 30% improvement in retention rates for each campaign. Ultimately, this strategic approach resulted in the retention of more than $30 million per year in customer value.

Contact our experts

https://pages.pwc.ch/core-contact-page?form_id=7014L000000UhwlQAC&embed=true&lang=en

Alexander Schultz-Wirth

Partner, Leader Customer Transformation, PwC Switzerland

+41 58 792 47 97

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Lingli He

Partner, Customer Transformation, PwC Switzerland

+41 58 792 20 90

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Maciej Przybysz

Director, Retail & Consumer Markets Consulting, PwC Switzerland

+41 77 487 73 43

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